5 Questions to Ask before Opening a Second Location

Posted by Jim Otto on Mon, Aug 13, 2018 @ 12:08 PM

5guidelines.jpgThe idea of owning multiple stores when you buy into a franchise is appealing. So why do so many people fail at it? Here are some guidelines for economy of scale that we use in our children's salons:

  • Never open multiple stores at one time: Your steepest learning curve will be at your first location. If that location is successful, number two, three and four become easier.
  • Find the right people and trust them: At Shear Madness Haircuts for Kids we call these people “charismatic connectors”. They have the organizational skills, leadership skills and understand numbers - and the ability to manage multiple locations for you!
  • Make sure the numbers work: At our children's salons we have a number that tells us how many services a day you should do before you even think about opening another Shear Madness Haircuts for Kids salon. You should never move forward to opening another salon until you hit those metrics.
  • Know your customer: After your first location you should have a rock solid idea of who your customer is: where they live, how much money they have and WHY they are your customer. This should give you a blue print for your second location.
  • Never stop learning: They say in business that the only constant is change. Now more than ever that holds true. Ways of marketing change daily, customers are fickle, and brand awareness is vital. If you like a challenge, you should do well!

Owning multiple locations is an exciting way to build a future income stream for yourself and your family. Just remember one thing, business is a marathon and not a sprint!

The Shear Madness Franchise Advantage!

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Shear Madness Franchising franchises Shear Madness Haircuts for Kids salons. We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and business success), and have sometimes seen the unexpected happen! When it does, we help by identifying and helping with challengean help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

Are you interested in learning how YOU can join the Shear Madness Haircuts for Kids family and run your own successful small business? We are one of the fastest growing kids hair salons in the industry today! If you would like to learn more about this franchise opportunity or small business marketing, great marketing strategies, resources for small businesses, franchise success, how to grow your small business or how to become a successful owner of your own kids hair salon franchise business, please click below or call 1-888-98 GONE MAD!

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Exploring a Children's Salon Franchise

Topics: multiunit franchise, franchising, franchise success, franchise opportunity, best kids hair salon, Shear Madness Haircuts for kids, business success, hair salon business, small business success, franchise location, business ownership, business growth

Finding Franchise Success in the Next Recession

Posted by Jim Otto on Fri, May 11, 2018 @ 13:05 PM

SuccessI recently attended a webinar with one of the largest franchising financing lenders in the United States. I would like to explain all the graphs that they showed us but the bottom line was this: all the signs point to the next recession hitting sometime in the next 24 months. 
  • Credit Card debt and margin buying of stocks are back to record levels.
  • The small business optimism indicator  is at record levels (this is a contrarian indicator). 
  • Retail rents are at extreme levels causing over building, even though demand is decreasing  for retail space! 
 
But what I was most interested in was a chart of the top 15 franchises according to the SBA. I can't tell you those names, but what I can tell you is some commonalities they had. 
  • Four of the top 15 were child related.
  • Most all were recession resistant. 

At Shear Madness Haircuts for Kids we feel like we combine both of these traits. As most parents look at a haircut as a necessity and not an option, and a haircut will never be replaced on the internet! Parents will always spend money on their children. They will cut out a lot of luxuries and services for themselves, but never a service that makes their children look better and feel better about themselves!
 
Shear Madness Franchising franchises Shear Madness Haircuts for Kids salons. We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and business success), and have sometimes seen the unexpected happen! When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

Are you interested in learning how YOU can join the Shear Madness Haircuts for Kids family and run your own successful small business? We are one of the fastest growing kids hair salons in the industry today! If you would like to learn more about this hair salon business opportunity or small business marketing, great marketing strategies, resources for small businesses, franchise success, how to grow your small business or how to become a successful owner of your own kids hair salon franchise business, please click below or call 1-888-98 GONE MAD

Would you like to sign up for our Monthly newsletter? If so, click HERE! 

Exploring a Children's Salon Franchise

Topics: franchise success, Shear Madness Haircuts for kids, best kids hair salon, growing a small business, kids hair salon, kids haircuts, franchise opportunity, owning your own business, hair salon business, small business success, haircuts for kids, business success, franchise ownership, franchise, franchise success, franchising, evaluating a franchise, franchise research, business growth, small business how-tos, Business Tips

In Business or Franchising - Three is the Magic Number!

Posted by Jim Otto on Fri, May 11, 2018 @ 13:05 PM

magicnumberI often get contacted by people who want to buy a franchise or business to be their own boss, take control of their destiny and live the American dream! Well, that's all well and good. But I'd like to take a moment and add a small bit of wisdom from one who has been there and has interacted with lots of people who who have also been there. 
 
It takes time. Three years to be precise. 
 
While some can do it a little faster and some might do it a little slower - on average it's going to take you about three years. If you were to pin me down, or get upset with me, or even tell me I'm crazy, I wouldn't mind. As a matter of fact, I really can't explain it other than to to tell you that after countless observations, research, and doing it myself, three years is about what it takes to create a business that gains enough traction for the owner to rightfully claim their business is on it's way to being successful. 
 
So the bad news here is this: If you're going to quit your job, make sure that you have lots - and need I say it again - LOTS of working capital. Because you may have a long runway. The other option is to keep your job and run your business on the side. This option will test your business skill, your ability to manage and find the right people, and trust them.
 
The good news here is: owning your own franchise or business can allow you to be your own boss, allow you to control your own destiny and allow you to live the American dream.
 
But like I said, it's going to take you about three years to get there. 

Shear Madness Franchising franchises Shear Madness Haircuts for Kids salons. We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and business success), and have sometimes seen the unexpected happen! When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

Are you interested in learning how YOU can join the Shear Madness Haircuts for Kids family and run your own successful small business? We are one of the fastest growing kids hair salons in the industry today! If you would like to learn more about this franchise opportunity or small business marketing, great marketing strategies, resources for small businesses, franchise success, how to grow your small business or how to become a successful owner of your own kids hair salon franchise business, please click below or call 1-888-98 GONE MAD

Would you like to sign up for our Monthly newsletter? If so, click HERE

Exploring a Children's Salon Franchise

Topics: franchising, franchise success, small business success, hair salon business, owning your own business, business ownership, business success, growing a small business, business, business growth, small business how-tos, Business Tips, how to begin a business, franchise ownership